"Coal investments are increasingly risky, say Bank of America", 7 May 2015

Coal mining companies pose an increasingly risky investment, according to the Bank of America, which has said it will continue to reduce its financing of the sector...The new policy said: “Going forward, Bank of America will continue to reduce our credit exposure to coal extraction companies.” It also committed to increasing lending to renewable energy, energy efficiency and carbon capture and storage...Despite reducing its investments in the sector, the bank remains among the world’s biggest backers of coal mining...Activists from Rainforest Action Network...hailed the announcement as a further blow for a flagging industry, saying it was first global bank to commit to scaling down its coal mining exposure...The Bank of America’s clients also include Indian state-owned giant Coal India, which has been linked to human rights abuses and child labour. The new policy said the bank would consider “the impacts of client operations on local communities, we support fundamental principles of human rights, and expect our clients to do the same”....[Refers to Adani, Coal India]